Business rates 2017

[RobinBHM]

It looks like our business rates are increasing next year by quite a bit.

Currently £7,500 could be increasing to about £13,000 :shock:

Has anybody else heard of similar increases?

 

[Limey Lurker]

When the Unified Business Rate came in, a furniture shop in Margate's rate was increased from £11000 p.a. to £55000.
The owner sold his home to keep going, but eventually the business folded after 50 odd years, the owner died at around the same time.

 

[treeturner123]

I don't have any recent experience, but as a trainee surveyor in the early 1970's, we dealt with commercial rates when all commercial properties were re-valued every 5 year. That way, the shock was much reduced. In addition, there was a very definite link between Rateable Value and rents current at the time.

Incidentally, I also dealt, in the 1980s, with a rent increase on a shop. The rent reviews were every 30 years!!! You can imagine the difference between the rent in 1955 and 1985!!

Needless to say, the tenants had never really though of this and were horrified. I seem to remember they sold out.

Phil